The Manufacturers Life Insurance Company Raises Stake in Veralto Co. (NYSE:VLTO)

The Manufacturers Life Insurance Company lifted its stake in shares of Veralto Co. (NYSE:VLTO) by 10.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 163,227 shares of the company’s stock after acquiring an additional 15,048 shares during the period. The Manufacturers Life Insurance Company’s holdings in Veralto were worth $18,259,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brown Brothers Harriman & Co. raised its stake in Veralto by 2.6% during the third quarter. Brown Brothers Harriman & Co. now owns 3,851 shares of the company’s stock worth $431,000 after purchasing an additional 99 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of Veralto by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,861 shares of the company’s stock worth $1,801,000 after buying an additional 100 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Veralto by 1.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $821,000 after buying an additional 100 shares during the period. Strategic Blueprint LLC lifted its holdings in Veralto by 4.5% in the third quarter. Strategic Blueprint LLC now owns 2,394 shares of the company’s stock valued at $268,000 after acquiring an additional 102 shares during the last quarter. Finally, Graypoint LLC grew its position in Veralto by 2.4% in the third quarter. Graypoint LLC now owns 4,514 shares of the company’s stock worth $505,000 after acquiring an additional 107 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Stifel Nicolaus upped their price target on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. UBS Group started coverage on shares of Veralto in a research note on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price for the company. Royal Bank of Canada boosted their price target on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, BMO Capital Markets increased their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Veralto has a consensus rating of “Hold” and an average price target of $108.27.

Insider Buying and Selling

In related news, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the completion of the transaction, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,260,841.90. The trade was a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Surekha Trivedi sold 752 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the transaction, the senior vice president now directly owns 10,413 shares in the company, valued at $1,071,601.83. This trade represents a 6.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,448 shares of company stock worth $1,698,675. Company insiders own 0.31% of the company’s stock.

Veralto Stock Performance

Shares of VLTO stock opened at $108.19 on Monday. The firm has a 50 day moving average of $108.00 and a two-hundred day moving average of $104.90. The stock has a market capitalization of $26.76 billion and a PE ratio of 33.39. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. Veralto Co. has a 52 week low of $73.91 and a 52 week high of $115.00.

Veralto (NYSE:VLTO) last released its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the business posted $0.75 earnings per share. Veralto’s revenue was up 4.7% compared to the same quarter last year. On average, research analysts predict that Veralto Co. will post 3.48 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, September 27th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.33%. Veralto’s payout ratio is 11.11%.

Veralto Profile

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.